Too much outsourcing, layoffs, and not enough compensation - Assistant Vice President State Street Employee Review

2.0
May 30, 2014
Recommend
CEO approval
Business Outlook

Pros

The flexibility to work at home is a huge part of why I am still with the company. However, sometimes working from home means no sick days ever and even longer working hours. I will say I do really like all of my co-workers, however the majority of them feel the exact same way I do.

Cons

The lack of merit increases and bonuses have contributed greatly to poor morale. We are not nearly compensated for the level of work we are performing, compared to other companies with similar job types. The outsourcing the past few years has gone through the roof and the employees have suffered because of this. The "help desk" is useless and forget about IT assistance anymore. The employees in these teams are even more disgruntled because they don't understand the process either. SSC has laid off so many valuable, experienced employees the past two years and they will never regain that level of knowledge, all to make a buck and cut costs to line CEO's pocket.

Explore other reviews about State Street

5.0
Jun 5, 2026
Recommend
CEO approval
Business Outlook

Pros

on-boarding was easy, lot of learning opportunities/clients to service, nice co-workers

Cons

sparse work-load allotted, difficult client assignments, strict vps

1.0
May 14, 2026
Recommend
CEO approval
Business Outlook

Pros

Remote work is (rarely) an option, though the approval process is extremely slow and bureaucratic. There are a few well-meaning colleagues who genuinely try to drive positive change before burning out.

Cons

Onboarding and HR processes are severely broken, taking 11 months to approve remote status and failing to prepare basic equipment for day one. The workplace culture is deeply hostile, with anger and yelling functioning as the default communication style across teams. Leadership turnover is rampant, resulting in constant re-organizations, splintered teams, and a total lack of strategic direction. Role clarity is non-existent, forcing employees to invent their own daily tasks while receiving entirely contradictory instructions. Direct management is completely absent; I went seven months without any contact from my boss before being laid off via a three-word instant message and short call.

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